May 4, 2020 / 5:28 AM / 22 days ago

BRIEF-CAF Says Delays In Project Progress In H1 2020 Expected To Be Counterbalanced in H2 2020

May 4 (Reuters) - Construcciones y Auxiliar de Ferrocarriles SA:

* SAYS HAS DECIDED TO DEFER THE OFFICIAL POSTING OF FINANCIAL RESULTS FOR THE FIRST QUARTER OF 2020

* SAYS REASON FOR THE RESCHEDULE OF Q1 RESULTS IS LACK OF SUFFICIENT AND RELIABLE DATA TO PREPARE FINANCIAL STATEMENTS WITH DUE ACCURACY AS A CONSEQUENCE OF THE DISTRESS CAUSED BY COVID-19

* IT HAS NOW A BACKLOG IN EXCESS OF 9 BILLION EUROS EXCLUSIVE OF FUTURE CONTRACT EXTENSION OPTIONS

* THE COMPANY IS CURRENTLY FOCUSED ON PERFORMANCE AND MAKING UP FOR ANY DELAYS ON ORDERS THAT WERE IN PRODUCTION WHEN WORKSHOPS HAD TO HALT OPERATIONS

* DELAYS IN PROJECT PROGRESS SUSTAINED DURING THE FIRST HALF OF 2020 ARE EXPECTED TO BE COUNTERBALANCED IN THE SECOND HALF OF THE YEAR

* SAYS FINANCIAL LIQUIDITY OF THE COMPANY TO DATE DOES NOT DIFFER MATERIALLY FROM THAT AT THE CLOSE OF 2019 Source text for Eikon: Further company coverage: (Gdansk Newsroom)

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